Zinc Social Inventories Down 2,400 mt On Week

SHANGHAI, Jan 14 (SMM)—Total zinc inventories across seven Chinese markets stood at 123,100 mt as of January 14, down 3,700 mt from Monday January 10 and down 2,400 mt from Friday January 7.

The inventory dropped on the week. Among them, the domestic zinc supplies in transport in expected to arrive in Shanghai next week, and the downstream also presented some restocking demand; hence the inventory in Shanghai kept dropped. Guangdong saw added inventories amid rising arrivals and weakening demand. In Tianjin, the demand was further depressed by the COVID-19 pandemic, and the shipments from the smelters also reduced, resulting in higher inventory.

In general, the combined inventory in Shanghai, Tianjin and Guangdong was flat from a week ago, while that across seven major markets in China dropped 2,400 mt.